All Forum Posts by: Graham Bates

Alothough I guess owner financing would not be available on a turnkey property?

Regards

Graham

@Derrick Craig  thanks for your reply. Do you think it is likely to find a property where the owner would be willing to finance?

If an owner was willing to finance half, do you think an asset finance company would find the other 50% as it technically is 50% of my purchase cost?

Many thanks

Hi,

Since reading through this forum for the last few days, I have decided that I would like to invest in properties in good, safe working class areas, in the 50k-70k range.

Being from the UK I think that starting with Turnkey properties would be best as it provides a more hands off solution, rather than buying somewhere that needs rehab as this would be very difficult to manage from the UK.

When it comes to finance it seems that options are limited, ideally I would want to put as little down as possible so I guess I may need to be creative! I cannot get a normal mortgage in the US as I have no history there, and a UK bank will not lend on overseas property unless I put up a UK property as security.

I have looked briefly into asset finance. But as a first time buyer in the US it seems that the most they are likely to loan is 50% of the purhase price.

Are there any other options for someone based in the UK?

Thanks

Thanks for your replies.

Originally posted by @Joseph Ball:

You have some excellent resources above. I find Orlando has the advantage of higher rents, lots of customers, but high acquisition costs. I stay in smaller nearby counties, with slightly lower rents, smaller tenant base, but lower acquisition costs. I think there is less turnover in small towns. I am a wholesale buyer and I specialize in these smaller towns. Sometimes, I can buy almost two houses in smaller towns for the price of one house in Orlando. You may find greater appreciation potential in Orlando. You may also find it faster, easier to sell in Orlando. Orlando is presently a Seller's Market, in my opinion.

Each has its advantages.

I have reead about people buying real estate for around $30k in other counties/ cities, but do these come very run down and the properties generally require a lot of work, or is that not always the case? Obviously if I could find an investment elsewhere for $30K that would be great, but I would be looking for an area where I would not have too much of a problem finding a long term tenant, and a property that has long term potential to increase in value.

Hi,

I am based in the UK and interested in buying a 2/3 bed condo/ house to rent out in Orlando or elsewhere in USA.

I have seen some properties in Orlando and although the prices have risen a bit recently, they are still pretty low. I wouldnt want to rent the place out for holidays, just on long term rentals. Some places are advertised as tenanted/ rent guaranteed... But does this just mean the agent may give you a few months rent but then the place is empty?

Are places in Orlando easy to rent out on a long term lease, or is this a hard area?

Many thanks